All AirAsia Group ASEAN carriers operationally profitable in 2016

AirAsia Group reported (23-Feb-2017) Malaysia AirAsia, Indonesia AirAsia, Philippines AirAsia and Thai AirAsia were operationally profitable in FY2016. Malaysia AirAsia, Thai AirAsia and Indonesia AirAsia made positive contributions to operating profit, with Indonesia AirAsia reporting its first profitable full financial year following its turnaround. Group revenue increased 10% in FY2016 driven by a 9% increase in passengers, a 2% increase in ancillary income per passenger to MYR48 (USD10.8) and a 6% increase in the average fare to MYR167 (USD37.5). Group revenue decreased 11% year-on-year in 4Q2016 due to a 48% decrease in aircraft operating lease income. AirAsia Group CEO Tony Fernandes reported strong travel demand on trunk domestic routes and services to regional leisure destinations, supporting higher load factors without declines in average fares. Mr Fernandes said, "We are thrilled to see our investments in ASEAN beginning to pay off," adding, "With all our four ASEAN airlines now operationally profitable we can confidently press forward with expansion." [more - original PR]